Contractor Business Systems Series: Part 2 – Accounting System
October 18, 2022
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The Contractor Business Systems podcast series hosts members of Cherry Bekaert’s Government Contracting Industry team to discuss each of the six contractor business systems—Accounting, Estimating, Purchasing, Earned Value Management Systems (EVMS), Material Management and Accounting System (MMAS), and Property Management.
In this second episode, Eric Poppe, a Director in Cherry Bekaert’s Government Contracting Industry practice, and Jacquelin LaClair, a Senior Associate in the Firm’s GovCon practice who spent 10 years working with the Defense Contract Audit Agency (DCAA) and the Defense Contract Management Agency (DCMA), discuss the requirements for an adequate accounting system as outlined in Accounting System Administration, 252.242-7006 and required by FAR 16.301-3 in the award of a cost reimbursable type contract.
Listen in to find out about:
- What types of Accounting System audits might be requested by Contracting Officers
- What the differences are between Pre-Award Accounting System audits and Post Award Accounting System audits
- What the government is reviewing
- How contractors should prepare for an Accounting System audit
If you have any questions specific to your situation, Cherry Bekaert’s GovCon Consultants are available to discuss your situation with you. Contact us
Cherry Bekaert’s Government Contracting Industry advisors are well versed in business systems requirements and complex control environments. We guide contractors in developing and maintaining compliant business systems, perform systems assessments, provide audit support, and prepare contractors for audits or reviews by the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA) or other cognizant agencies.
If you haven’t already, catch up on other parts of the series:
- Contractor Business Systems Series: Part 1 – Applicability
- Contractor Business Systems Series: Part 3 – Cost Estimating System Requirements
- Contractor Business Systems Series: Part 4 – Purchasing System
- Contractor Business Systems Series: Part 5 – Earned Value Management System
- Contractor Business Systems Series: Part 6 – Property Management System
- Contractor Business Systems Series: Part 7 – Material Management and Accounting System
- Contractor Business Systems Series: Part 8 – Navigating Business Systems Audits and Reviews
- Contractor Business Systems Series: Part 9 – Navigating Review and Audit Findings